Understanding State Finances and Public Debt
State Revenues and Expenditures
Other income includes:
- Current transfers: Resources from other units, such as those collected from state lotteries.
- Property income: Income from state assets, such as RENFE.
- Capital gains: Derived from investment sales of state assets, such as Iberia and Repsol.
- Capital transfers: Funds from the EU for investment projects.
PGE Expenditures
Spending indicates the objectives of government budgets and can include:
- Running costs: Aimed at providing public services to society.
Industrial Classification and Production
Industry Classification
Dimensions: Small, medium, large industry. Reference parameters: Production capability, number of employees, range of investments, and annual turnover. The parameter values can change with:
- Mechanization and/or automation degree
- Sector classification (manufacturing, chemical, etc.)
Transformations Nature: Mechanical, chemical, electric, textile, steel, food, or mixed (electromechanical, electrochemical, chemical-textile).
Level of Integration:
- Vertical Integration Industry: Upstream
International Marketing: Strategies, Channels, and HR Challenges
International Marketing: An Overview
International marketing is defined as the performance of business activities designed to plan, price, promote, and direct the flow of a company’s goods and services to consumers or users in more than one nation for a profit. The key difference is the “environment,” encompassing competition, legal restraints, government controls, weather, consumer behavior, economic conditions, technological constraints, infrastructure concerns, culture, and political situations.
Read MoreE-Business vs E-Commerce: Advantages, Disadvantages & Taxation
Business and the Internet
Introduction: E-Business and E-Commerce
E-business and e-commerce are terms sometimes used interchangeably, and sometimes to differentiate vendor products. In both cases, the ‘e’ stands for ‘Electronic Networks’ and describes the application of electronic network technology.
E-commerce, or electronic commerce, involves carrying out business communications and transactions through computers and over networks. It includes buying and selling goods and services through digital
Read MoreEconomics Key Concepts: GDP, Interest Rates, and More
Key Economic Concepts
- GDP Deflator: The broadest price index, covering all output.
- Real Interest Rate: The nominal interest rate minus the anticipated rate of inflation.
- Bracket Creep: The movement of taxpayers into higher tax brackets as nominal incomes grow.
- Income Changes: If your rent increases from $1,000 to $1,100 over a period of one year and your income rises from $6,000 to $7,000, your nominal income has increased, and your real income has increased.
- Money Illusion: Experiencing a rise in income
Insurance Risk Types: Technical, Investment, and Non-Technical
Insurance Risk Types
Technical Risks
- Risk of Diversion: Statistical deviations in risks, such as changes in mortality, morbidity, life expectancy, crime rates, wages, prices, and interest rates.
- Insufficient Risk Premium: The risk that premiums are too low, potentially overlapping with the risk of diversion when premiums are inadequate despite careful appraisal.
- Risk Valuation of Technical Reserves: Incorrect risk assessment leading to insufficient technical reserves to meet insurance contract obligations.